Trustnet Magazine 81 February 2022 | Page 60

Performance of stocks vs index since 2020 low
Inflation
Rock up Dobbie adds : “ It ’ s been unusual how incredibly resilient mining sector dividends were through the pandemic . Possibly because China entered the pandemic first and – in as much as anyone can say they ’ re out of it – has been coming out of it first . The mining sector was incredibly strong : Rio and BHP became two of the biggest dividend payers in the FTSE All Share .” He says you might have expected such an ultra-cyclical sector to implement big dividend cuts , yet instead there was strong growth in normal and special dividends , albeit not yet back to pre-pandemic levels . On the flipside , certain fastmoving consumer goods ( FMCG ) giants saw widespread de-ratings against rising bond yields , such as Unilever and Reckitt .

Performance of stocks vs index since 2020 low

BHP Group ( 137.3 %)
Rio Tinto ( 93.1 %)
FTSE All Share ( 62.0 %)
160 %
140 %
120 %
100 %
80 %
60 %
40 %
20 %
0 %
-20 %
Apr20
Jun
Aug
Oct
Dec
Feb21
Apr
Jun
Aug
Oct
Dec
Source : FE Analytics
Issue 81 - February 2022 / 31 /